Strad Energy Services Ltd. Announces Discontinuance of Class Action Proceeding

CALGARY, ALBERTA--(Marketwired - July 11, 2017) - Strad Energy Services Ltd. ("Strad" or the "Company") (TSX:SDY) is pleased to announce that the plaintiffs in the proposed class action proceeding previously filed in the Alberta Court of Queen's Bench (the "Court") Action No. 1601-07269 (the "Action") have filed a discontinuance of the Action against all defendants named in the Action including Strad and certain of its current and former directors, on a without costs basis.

The discontinuance was filed with the Court without any admission of liability or wrongdoing on the part of the defendants and no settlement proceeds have been paid or are payable by Strad or the individual defendants in the Action.

About Strad

Strad is a North American energy services company that provides rental equipment and matting solutions to the oil and gas and energy infrastructure sectors. Strad focuses on providing complete customer solutions in Canada and the United States.

Strad is headquartered in Calgary, Alberta, Canada. Strad is listed on the Toronto Stock Exchange under the trading symbol "SDY".